XTX Topco Ltd Has $1.03 Million Stake in Raymond James (NYSE:RJF)

XTX Topco Ltd increased its holdings in shares of Raymond James (NYSE:RJF) by 390.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,351 shares of the financial services provider’s stock after purchasing an additional 6,649 shares during the quarter. XTX Topco Ltd’s holdings in Raymond James were worth $1,032,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Ontario Teachers Pension Plan Board lifted its stake in Raymond James by 4.4% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 5,635 shares of the financial services provider’s stock valued at $628,000 after acquiring an additional 240 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Raymond James by 25.4% in the fourth quarter. Hsbc Holdings PLC now owns 444,597 shares of the financial services provider’s stock valued at $49,603,000 after acquiring an additional 89,981 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in Raymond James by 36.9% in the first quarter. Concurrent Investment Advisors LLC now owns 8,640 shares of the financial services provider’s stock valued at $1,109,000 after acquiring an additional 2,328 shares during the last quarter. Norden Group LLC lifted its stake in Raymond James by 3,257.7% in the first quarter. Norden Group LLC now owns 84,949 shares of the financial services provider’s stock valued at $10,908,000 after acquiring an additional 82,419 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in Raymond James by 5.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 225,331 shares of the financial services provider’s stock valued at $28,937,000 after acquiring an additional 11,427 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Price Performance

NYSE:RJF opened at $124.31 on Friday. Raymond James has a 52 week low of $91.67 and a 52 week high of $131.19. The firm has a market cap of $25.60 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 0.81 and a beta of 1.02. The firm’s 50-day simple moving average is $115.40 and its 200 day simple moving average is $120.34. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same period last year, the firm earned $1.85 earnings per share. Raymond James’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts predict that Raymond James will post 9.58 earnings per share for the current year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Tuesday, October 1st. Raymond James’s dividend payout ratio is 21.77%.

Insider Buying and Selling

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the transaction, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total value of $1,996,745.00. Following the transaction, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the completion of the transaction, the chief executive officer now directly owns 35,380 shares in the company, valued at $3,879,063.20. The disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on RJF shares. Jefferies Financial Group increased their price target on shares of Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a research note on Monday, July 8th. UBS Group cut their target price on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. JPMorgan Chase & Co. cut their target price on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. TD Cowen raised their target price on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Finally, Wells Fargo & Company assumed coverage on shares of Raymond James in a research note on Thursday, September 12th. They set an “overweight” rating and a $138.00 target price for the company. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Raymond James currently has an average rating of “Hold” and an average target price of $130.70.

About Raymond James

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.